Maine Land Only Mortgage | Machias Savings Bank

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Land-Only Mortgage

Build Equity for Your Future

With a Land-Only Mortgage from Machias Savings Bank, you can purchase land-only and build equity for future improvements or construction.

Land-Only Mortgage

We’re Offering a Convenient and Easy Way to Finance That Perfect Piece of Land for Your New Home.

Land-only loans are similar to traditional mortgages in that we will provide the funds for you to purchase land. Additional features of our Maine land-only mortgage include:

  • Down payments as low as 25%
  • Fixed interest rates
  • Multiple loan terms
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Land-Only Mortgage Details

Land-only loans are an excellent option for applicants looking to start building immediately, as well as those wishing to wait before beginning construction. Benefits of choosing us include:

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Local

We complete all servicing and decisions for land loans on a local level.

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Fast Responses

We maintain communication throughout the application process to streamline your purchase.

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Easy Application

Applicants can complete our easy application online, by phone or in person.

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Online and Mobile Banking

Enjoy banking on the go or from the comfort of your home with online and mobile banking.

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Auto Payments

Ensure you always pay your loan on time with our automatic payment options using your Machias Savings checking or savings account.

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Easy Closing

Our streamlined closing process enables you to reach your dreams of land ownership sooner.

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Customer Portal Access

Our secure customer portal allows you to apply for and manage your mortgage application from your computer or mobile device.

Login Now To Our Mortgage Customer Portal
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Talk to Our Mortgage Team Today

Our team has helped communities across Maine reach their potential through smart financial decisions. We look forward to assisting you in the land-buying process and encourage you to reach out to a team member today to learn more about our land-only mortgage rates.

Reach Out to Our Mortgage Team

Get Ready to Apply

Whether you plan to apply for a land mortgage in person, online or over the phone, it’s essential to gather the following documents beforehand:
  •  Fully executed purchase agreement (if applicable)
  • Pay stubs from within the last 30 days
  • Bank statements from the previous two (2) months
  • W-2s from the last two (2) years
  • Tax returns from the last two (2) years
  • Current driver's license or a photo ID

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